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Fortinet FTNT EV / EBITDA

EV / EBITDA at other companies

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MicrosoftMSFT
14.5×-4.7×
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23.2×+5.9×
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1,183×
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546.7×-467×
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Akamai TechnologiesAKAM
14.3×+4.1×

Other financials

Income statement

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Revenue$1.8B+20.1%
Gross profit$1.5B+19.1%
Operating income$580.0M+27.8%
Net income$534.5M+23.3%
EPS (diluted)$0.72+28.6%

Balance sheet

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Cash & equivalents$2.2B-38.2%
Total debt$567.2M-47.3%
Total equity$989.7M-49.6%
Total assets$9.9B-5.0%

Cash flow

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Operating cash flow$1.1B+24.8%
CapEx$70.6M+6.2%
Free cash flow$1.0B+26.3%

Valuation

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Market cap$105.6B-18.3%
Enterprise value$103.95B-17.7%
P/E54×-14.8×
P/S14.9×-6.2×

Profitability

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Gross margin80.3%-1.0pp
Operating margin31.1%-0.4pp
Net margin27.5%-3.1pp

Returns & leverage

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Return on equity132.4%
Debt / equity0.6×0.0×
Current ratio1.2×-0.2×

Where this comes from

Calculated from Fortinet’s reported figures.

Based on the most recent quarter.

The official record: Fortinet’s 10-Q, filed May 8, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Fortinet's EV / EBITDA?
Fortinet (FTNT) reported EV / EBITDA of 24.8× in Q1 2026.
How has Fortinet's EV / EBITDA changed year-over-year?
Fortinet's EV / EBITDA decreased by 28.2% year-over-year, from 34.6× to 24.8×.
What is the long-term trend for Fortinet's EV / EBITDA?
Over 4 years (2021 to 2025), Fortinet's EV / EBITDA has grown at a -16.1% compound annual growth rate (CAGR), from 255.5× to 126.5×.
What does EV / EBITDA mean?
What the whole business (debt included) costs relative to its operating cash earnings.
How do you interpret EV / EBITDA?
Lets you compare companies with different leverage and tax positions on a like-for-like basis — the standard multiple in M&A. Lower can mean cheaper, subject to growth and capital intensity.
How does EV / EBITDA compare across companies?
Broadly comparable across non-financial sectors; not used for banks and insurers, where EBITDA is not meaningful.